Chip Conk & Rus Gudnyy Of Montecito Medical Real Estate Acquire Medical Office In Memphis For $22M

The transaction involves a medical office asset located at 100 North Humphreys Boulevard, Memphis, TN. The property, covering approximately five acres, consists of a two-story medical building and has a total square footage of 53,000. Montecito Medical Real Estate acquired the property for a total price of $22 million, translating to a price per square foot of $415.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $22,000,000
• Address: 100 North Humphreys Boulevard
• Market: Memphis, TN
• Square Footage: 53,000
• Price per Square Foot: $415
• Buyer: Chip Conk & Rus Gudnyy - Montecito Medical Real Estate
• Seller: Boyle North-West LLC

The deal was facilitated by Chip Conk and Rus Gudnyy, who represent Montecito Medical Real Estate as the buyers. Boyle North-West LLC, an affiliate of Boyle Investment Co., acted as the seller in this transaction. The property will continue to be occupied by Le Bonheur Children’s Hospital, and Montecito intends to hold the property long term with no immediate plans for redevelopment.